Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Cryptotourist]

The problem is, I have difficulty spending much beyond my salary, considering that btc might go to $5mil, eventually.

That's a very good point dear sir.

Congrats!




Hello. SaveMotherTeresa went bullish.

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[600watt]

dear WO


this is one of the best bitcoin related pieces i have encountered in a long time. i am humbled. i am in awe. incredibly profound. must read or must listen!

it is a long read. here is a small example:

From an outside perspec­tive, Bitcoin funnels the chaotic mess of globally broad­cast asynchro­nous messages into a parallel universe, restricted by its own rules and its own sense of space and time. Trans­ac­tions in the mempool are timeless from the point-of-view of the Bitcoin network. Only when a trans­ac­tion is included in a valid block does it get assigned a time: the number of the block it is included in.

It is hard to overstate how elegant a solution this is. Once you are able to create your own defin­i­tion of time, deciphering what came before and what came after is trivial. In turn, agreeing on what happened, in what order, and, conse­quently, who owes what to whom, becomes trivial as well.

The diffi­culty adjust­ment makes sure that the ticks of Bitcoin’s internal metronome are somewhat constant. It is the conductor of the Bitcoin orchestra. It is what keeps the music alive.

But why can we rely on work in the first place? The answer is three­fold. We can rely on it because compu­ta­tion requires work, work requires time, and the work in question — guessing random numbers — can not be done efficiently.

podcast: https://anchor.fm/thecryptoconomy/episodes/Read_503---Bitcoin-is-Time-DerGigi-erk2ss/a-a4r1dh6


article: https://dergigi.com/2021/01/14/bitcoin-is-time/


edit: another, even better glimpse:

Two building blocks are essen­tial for the struc­ture of time: causal links and unpre­dictable events. Causal links are required to define a past, and unpre­dictable events are required to build a future. If the sequence of events would be predictable, it would be possible to skip ahead. If the individual steps of the sequence aren’t linked, it would be trivial to change the past. Because of its internal sense of time, it is insanely diffi­cult to cheat Bitcoin. One would have to rewrite the past or predict the future. Bitcoin’s timechain prevents both.

Viewing Bitcoin through the lens of time should make clear that the “block chain” — the data struc­ture that causally links multiple events together — is not the main innova­tion. It is not even a new idea, as is evident by studying the timestamp liter­a­ture of the past.

What is a new idea — what Satoshi figured out — is how to indepen­dently agree upon a history of events without central coordi­na­tion. He found a way to imple­ment a decen­tralised timestamping scheme that (a) doesn’t require a time-stamping company or server, (b) doesn’t require a newspaper or any other physical medium as proof, and (c) can keep the ticks more-or-less constant, even when operating in an environ­ment of ever-faster CPU clock times.

Timekeeping requires causality, unpre­dictability, and coordi­na­tion. In Bitcoin, causality is provided by one-way functions: the crypto­graphic hash functions and digital signa­tures that are at the core of the protocol. Unpre­dictability is provided by both the proof-of-work puzzle as well as the inter­ac­tion with other peers: you can’t know in advance what others are doing, and you can’t know in advance what the solution to the proof-of-work puzzle will be. Coordi­na­tion is made possible by the diffi­culty adjust­ment, the magic sauce that links Bitcoin’s time to ours. Without this bridge between the physical and the infor­ma­tional realm, it would be impos­sible to agree on a time by relying on nothing but data.

if stuff like this doesnt get you aroused, you dont bitcoin

[Richy_T]

Hello. SaveMotherTeresa went bullish.

Fiat

[Cryptotourist]

article: https://dergigi.com/2021/01/14/bitcoin-is-time/

Obviously will read, but I'd like to add something I was thinking the other day.

When Alexander the great died, he made a symbolism that you can't taking anything with you when you're dead, by getting buried without any jewelry.
This is not true for BTC. I'm not saying that you should take your coins to the grave of course, but how timeless is that?

Fiat

That's probably equally* awesome.
Depends what you want.

*edit

[d_eddie]

Bitcoin could prevent society from functioning and is an ‘extreme form of libertarian anarchism,’ warns this fund manager
https://www.marketwatch.com/story/bitcoin-could-prevent-society-from-functioning-and-is-an-extreme-form-of-libertarian-anarchism-warns-this-fund-manager-11614937228?siteid=yhoof2

I call stuff like this "much needed FUD". It reeks of desperation.

[JayJuanGee]

This such boring movement last couple of weeks.. WO - when $60k??

Does not seem very boring to me... and 60k is quite likely to come soon enough. so no need to fail/refuse to enjoy the ride along the way, amiNOTrite?

 

[shahzadafzal]

I'm with the other guy who thinks we should be grounded in reality for now. Space elevators are fun and all, but we could still cover a lot of surface area on the planet, maybe even in the oceans, for plenty of solar panels / arrays to power the world (or a bitcoin miner.)

I found this before: https://landartgenerator.org/blagi/archives/127



So it's not updated, but you can line up a whole bunch of solar panels near the equator and not much is needed to power the world (not including bitcoin miners) ...

That article also discusses wind power and hydroelectric power.


Edit: here is another one just for bitcoin.

https://landartgenerator.org/blagi/archives/5697

Well I have been in similar discussion with friends who still didn’t accept Bitcoin yet. So one time we discussed that it’s a fact tha a SME (coronal mass ejection) is a serious threat to humanity. And if it happens it will be a complete blackout for days, months or may be years. In such a mass disaster what will happen to Bitcoin?? when this whole Bitcoin echo system needs so much energy and constant internet connection  how Bitcoin will survive? Whereas paper money or gold can still be valued and used in such scenarios like nothing happened.

[Wekkel]

https://i.ibb.co/NVKFLpY/245-F8-FCB-FF3-B-4-D47-82-A8-521252551-D26.jpg

I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least.

I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff).

I am happy this way. And that won't change if Bitcoin goes to $288k.

[Phil_S]

So, that last part, spend a little energy to throw something to the sun, then let it be.. It's going to spiral and never really get there and just be some space debris / comet?

It's not going to spiral. Spending a little bit of energy means the new orbit will be a little bit lower, that's all.

[El duderino_]

https://i.ibb.co/NVKFLpY/245-F8-FCB-FF3-B-4-D47-82-A8-521252551-D26.jpg

I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least.

I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff).

I am happy this way. And that won't change if Bitcoin goes to $288k.

indeed, same here, bought a defender just last week.... second hand.... DOG-car 

[julian071]

https://i.ibb.co/NVKFLpY/245-F8-FCB-FF3-B-4-D47-82-A8-521252551-D26.jpg

I'm afraid I just pulled the trigger on a 2nd hand station wagon (the Alpina has to wait). Most expensive car I ever bought but way less than a Lambo. I expect to drive it for 10 years at least.

I am cautious not to flash wealth too much. Some people may get the idea that Bitcoiners are super wealty and an easy target (no Bitcoins stored in a bank but at home). And I don't really like to own expensive stuff (at least: more expensive than the top 10% in a country owns; still good but not uber rich with Bentleys, mansions and stuff).

I am happy this way. And that won't change if Bitcoin goes to $288k.

indeed, same here, bought a defender just last week.... second hand.... DOG-car 

I bought a 2003 Honda CBR 954 RR Fireblade recently for when I don't want to flash my cocaine-white Ducati Panigale.

(Nah bought it because it's an awesome machine. No electronics and lighter then the Duc).

[DaRude]

Can't you just point it there, fire a thruster, and let it go it's course? (I mean, calculate where it should end up, but yeah, basically go towards the sun.)

Nope. I think Larry Niven covered this too, prolific guy. You either speed it up, which takes it to a higher orbit or slow it down which takes it to a lower orbit. To take it to an orbit low enough to burn up in the sun, you need to slow it down the whole amount that the earth is orbiting the sun (about 67000 mph). There's a little bit of fudge in this due to eliptical orbits and drag from the sun's atmosphere but that's the basic principle. Essentially anything you fire into the sun is going to get there on a spiral path.

Correct. I really recommend reading up on the Messenger probe that went to Mercury, it needed an insane amount of fuel and a number of earth and venus flybys to slow down enough to even get to mercury. In space speeding up takes energy, slowing down takes energy, everything takes energy :-)

So, that last part, spend a little energy to throw something to the sun, then let it be.. It's going to spiral and never really get there and just be some space debris / comet?

I'd imagine if we have like a bunch of stuff (remember very old superman movie with nuclear bomb rockets in a large bundle that he just threw to the sun), but then that whole thing must be very heavy.

I always thought that the challenge was to calculate perfect orbits without it getting pulled in and crashing. Now getting into an orbit around the sun is the easy part?

[DaRude]

I'm with the other guy who thinks we should be grounded in reality for now. Space elevators are fun and all, but we could still cover a lot of surface area on the planet, maybe even in the oceans, for plenty of solar panels / arrays to power the world (or a bitcoin miner.)

I found this before: https://landartgenerator.org/blagi/archives/127



So it's not updated, but you can line up a whole bunch of solar panels near the equator and not much is needed to power the world (not including bitcoin miners) ...

That article also discusses wind power and hydroelectric power.


Edit: here is another one just for bitcoin.

https://landartgenerator.org/blagi/archives/5697

Well I have been in similar discussion with friends who still didn’t accept Bitcoin yet. So one time we discussed that it’s a fact tha a SME (coronal mass ejection) is a serious threat to humanity. And if it happens it will be a complete blackout for days, months or may be years. In such a mass disaster what will happen to Bitcoin?? when this whole Bitcoin echo system needs so much energy and constant internet connection  how Bitcoin will survive? Whereas paper money or gold can still be valued and used in such scenarios like nothing happened.

Well lets see, assuming mass CME lasting 24hrs to cover all of earth, power grid is fried, nuclear power plants shutting down some blowing up cause their redundant safety mechanisms are fried, some nuclear weapons/ships/submarines/planes might go boom, satellites supposed to have some protection but chances are won't hold up to such massive CME so GPS and SAT communications are done, planes falling out of the sky, mass hysteria, supply chains disrupted shortages of food widespread, armies are reduced to few guys running around with guns, ATMs are used for target practice etc, etc, etc... and you think i'll accept your monopoly coupons or shiny metal for this chicken that i'm trying to sell because i need more ammo? If such major disaster happens BTC would be the last of your worries. On a bright side surviving society's priority would be restoring the internet, once that's back up BTC would be the first one to come back online before any bank or ATM will start working.

[JayJuanGee]

Order @ $47k just got filled. Next order set up to execute @ $46.5k - Set up down to $45k.

I would totally merit you, but I don't have any anymore.

Also... had regret of not being more greedy to put a few hundred lower... ... it dipped to 46,700$ ...

Exactly... Save the RF... you are not greedy enough..  that's your problem.  

Be more greedy.. and while you are at it, may as well be more retarded (and quasi-incomprehensible), too.  You go girl!!!!

You will thank me, later.  


 

This such boring movement last couple of weeks.. WO - when $60k??

There will be another dump attempt in 12'-ish hours.

But resistance feels strong!

"Resistance"?

You must be talking about "support," no?

half the time, who the fuck knows what you are talking about?    Do you even know?    Must suck to be you with such ongoing confusing and most-of-the-time incorrect inner-dialogue.  

Price still going down yo!

They don't trust you. They won't admit it. ... They should have sold at 52k as I told them. ... now they would have had 5K profit per coin owned.            

We (royal we, of course) no doesn't roll like dat in dees here parts.

 

what is this, a dip for a cock?  

History of BTC Performance during the Month of March since 2013.



https://twitter.com/CryptooIndia/status/1367713473497423873

There you have it.. Price charts do not lie.. especially the seasonal ones..  For sure, king daddy is a fucking pussy and follows seasons... therefore, .must be going to go down then.  

May as well pack up, boyz.      


Sucks to be a bag HODLers, sometimes.  

[_javi_]

Hello. SaveMotherTeresa went bullish.

Fiat

Thats not a FIAT, it's an ABARTH. (at least the logo)

[JayJuanGee]

Such a great feeling to go out shopping, come back a couple of hours later and realise that while you were out you made 400 times the money you spent shopping.

Man, next time I'll be buying a few more things...

Onwards & upwards!

HoDL.

I know the feeling when your btc balance in $ goes up and down a shitload of money and you don't think too much about it

There are surely some folks who were bitcoin millionaires in the sub $10k BTC prices.. maybe even they had a couple of million in bitcoin, and then BTC prices went to $58k, and maybe even with the current correction that is approaching $45k-ish, their $1million to $2million had gone up  to nearly $6 million to $12million and then come back down to $4.5 to $9million...

What if some of those BTC HODLer folks shaved off a few hundred thousand or even a $million or more of their BTC stash (to value their wealth in dollars for a period of time), their BTC portfolio may well not even feel depleted in any kind of meaningful or material kind of way in terms of their still being prepared for more UPpity or just ready, willing and able to leave all of their cashed out fiat on the table in the event that they are not able to buy back in (and they end up "suffering" with a wee bit of a smaller BTC stash that is only worth currently at values in the $3.5 to $7 million range rather than $4.5 to $9million)... May not be a BIG deal either way for some of these folks to apparently be "suffering" from delusions about temporary fiat value, whether BTC is all of their wealth or they might have some of their wealth (or take some opportunities to put some of their wealth) in other areas as well.  AmiNOTrite?

thanks for letting us know your stash.  

Those are some pretty decent points.. 600watty twatty.  

Gosh... I am so embarrassing!!!!!

I don't recall saying anything specifically about the stash, if any, of yours truly.

Must I remind you that yours truly frequently speaks his lil selfie in the form of hypotheticals that may or may not reflect the actual holdings of any person in real life known or unknown by yours truly.

Yours truly is also an avatar on the interwebs who may or may not have nice lil stories that may or may not have elements of truths contained therein.

what would be the combined stash size of all WO hats?

Now regarding the stashes of WO hats, interesting that you ask about combined stash as compared with average - median or mode.

I have little to no clue, but I would surmise that there remains a decent amount of variation towards decently sized stashes and also some no coiners (not even completely by choice from their own perspectives)...

Regarding my idea of hypothetical persons starting with pre-$10k stashes valued in the $1million to $2million territory, those kinds of peeps and stashes surely do exist, and they are likely to be way more prevalent as active participants of the WO thread as compared to the population in general.. in the population in general, those kinds of stashes would truly be somewhat rare birds, relatively speaking (probably in the less than .1% of the population territory), even if those kinds of supposed HODLers might be hyped in the mainstream media, as if they were more present and prevalent than they actually are.  

Not sure what else to say, but sometimes there can be some funzies in speculating regarding some of the specifics of some members, and sometimes members will actually end up providing some ideas (and surely sometimes too muchie) regarding their particulars, and I do not claim to be one of those kinds of members who actually have any meaningful quantity of coins, even if my interweb avatar might be construed to have had made, from time to time, such experiential representations in order that s/he/it can put on airs of speaking with some degree/level of quasi-wannabe-authorities.   

[Torque]

I'm sure it's a neat car and all, but I'm sorry...trying to hand wash all those little janky nooks and crannies would be a nightmare.

Why does every car maker now have to have Japano-jank Transformer-ish angles everywhere?

I say bring back the nice smooth Euro curves of the mid 2000's.

[d_eddie]

Wealth Managers Want Clarity on Bitcoin Rules: Reuters
https://www.coindesk.com/wealth-managers-want-clarity-on-bitcoin-rules-reuters

Poor managers, forced by regulatory uncertainty into buying ETFs that don't exist yet for their pleb customers screaming "we want btc!".

TL;DR "Give the people what they want"

[JayJuanGee]

now the try, to get the day candle under 50k ... btw on low volume

and there's minor resistance at $50k as well.

hope we stay above, that would be a bullish signal ...

"We" do not need to stay above $50k to already be in a bullish place with bitcoin.

Man you are a pendantic fellow ... would be bullish in short term in relation of the end of the correction. Man ... did you work for the goverment? Are you an accountant? pedantic as fuck ...

-.-

The new word of the day boyz and girl..."pendantic" or "pedantic"... I would look it up, but it is beneath me.  hahahahahaha.

Regarding your seeming substantive concerns about a person trying to be more accurate in their posts, you might want to consider or reconsider your own posts in that direction... In regards to my own posts, and generally speaking, I stand by my earlier posts .. even if you may well find them to be too precise.. or whatever you might be attempting to say with your supposed concerns about my posts.

Ive been wanting to take time off but I cant until my exit, bounce buy, bounce sell, and re-entry from the crash

You are assuming you will be able to exit at the top.... how?

Trailing stop, or something like that. Right now I keep manually adjusting my stop to important levels I know would not be good to break like right now it is 18500.

Even if I miss it it'll still create huge waves I'll be able to trade and waves in altcoins that I can margin trade regardless of my position.

Lack of Tera2 in this thread is approaching distressing levels. Who will make the topcall within 5% ??

75-80k. once we get there put in a stop at 65k

Case in point..   Almost always we have Tera2 wannabes or sorcerer wannabes... not like that is going to stop, and sure some of them will end up being more right than others, which to me seems like a BIG so fucking what?

Sorcerer wannabes like masterluc? Haven't heard from that guy for a long time. His fans are also gone?  

Sure.. some of them will go away for a while.. and some of them will return, too... but being wrong for a decently long period of time does likely wear upon some of those dweebs.

[JayJuanGee]

Bitcoin could prevent society from functioning and is an ‘extreme form of libertarian anarchism,’ warns this fund manager
https://www.marketwatch.com/story/bitcoin-could-prevent-society-from-functioning-and-is-an-extreme-form-of-libertarian-anarchism-warns-this-fund-manager-11614937228?siteid=yhoof2

Cannot really determine from the article:

Does that mean that he (and his fund) are not buying any?


Could be a bit irresponsible to suggest 0% allocation to bitcoin, yet if he happens to believe that bitcoin is going to get squelched because of its threats to society, then I suppose that could be a ideological perspective that is reflected in his finances, but does not seem to have great chances of playing out well (or as he may had been expecting, perhaps?).  

I had a kind of "friend" pestering me the other day about some matters that would have irritated me a lot more previously in terms of some "treats" that I could buy her, and I gave almost no resistance to her irritating desire to use me as an ATM, and I said o.k.  Let's go get those "things you absolutely need,"  and almost amazing how "happy" she was for a couple of days.. even though hardly any skin off my back, relatively speaking I did not even really mind very much... and probably 4-5 years ago, I would have not spent money in that way, and I probably would have been a bit bothered by being solicited in that direction.    

Oh, that reminds me, I had another "friend" who wanted to go shopping with me, and she had some particular items in mind that she "really needed."  I just made up some various excuses because I did not want to go shopping, and I also made up a kind of reason that she needed to receive the money (because it was "very important to me too" blah blah blah), and then I gave her like twice the amount of money that she told me that she would need for such item(s), and at the same time, I was "saved" from going shopping... still funny about the whole situation.. and really not any kind of inconvenience for me.. maybe less inconvenient than going shopping with her and then trying to figure out how to keep her within budget when in this case, in current times, the amount felt like pocket change to me, but more than double of what she was expecting...

Sorry to say you've just made a rod for your own back. Two of em.

Probably we view the world differently, because even though I provided some details, it probably would not be a good thing to attempt to read too much into the relationships that you perceive therein.

#justsaying  coming off as a bit of premature judging based on the context that you got, no?

This is our chance boiz!!! DUMP NOW AND WE GET TO $39K!!!

Coming off as a wee bit desperate Save the RF, no?

He BTFD once again!


https://twitter.com/michael_saylor/status/1367824821011296257?s=20

More details here

PLS Note: 16 seconds reaction time. Screengrab and post to WO. You're welcome.

“At an average price of ~$24,119 per bitcoin”  
It’s ok I don’t own ~91,064 bitcoins but still my average buy is way better at $9,071 per bitcoin.

I am quite sure that there are a considerable number of folks like to tout their average BTC buy price as being quite low, but I doubt that average buy means very much in some cases especially when their BTC stash is so tiny, even though they tout such nonsense and if considered from another angle they could have way the fuck more bitcoin if they had not been hanging onto such sometimes meaningless metric.

Would you rather have 2 BTC with an average price of $563, or 50 BTC with an average price of $6,563?  Paid way more for those 50BTC.. and if you have decent income still coming in and you are NOT quite ready to pull the "fuck you" lever, then maybe you keep dollar cost averaging and raising your average price and your BTC stash at the same time.. and maybe in 10 years, you add another 10 BTC onto your total BTC stash, but you raised your average BTC price to $20k or some seemingly high average price?  Perhaps?

Candidate for a poll:

What's your average Bitcoin buy price?

< $1
$1 - $10
$11 - $100
$101 - $1,000
$1,001 - $2,000   <--- I am here.
$2,001 - $5,000
$5,001 - $10,000
$10,001 - $20,000
$20,001 - $50,000
> $50,000
I don't own any.
I mined it all.
I mindrusted it all!

Freeroll (cashed out more than I put in)   <--- I am here.

Ahahahaha..   Case in point.

Maybe rolling is an example of someone who could have had way more BTC and even been way better off, but he was valuing his zero or less than zero cost basis?  Perhaps?  Perhaps?  Don't want to pick on you, but there are peeps who could be way better off by continuing to buy BTC along the way because they do not have nearly enough to really have been able to prosper nearly as close as the BTC opportunities had provided them over the past several years.